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Premier Oil PLC (PMO)

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Tuesday 31 July, 2018

Premier Oil PLC

Mandatory Conversion: remaining Convertible Bonds

RNS Number : 2319W
Premier Oil PLC
31 July 2018
 

PREMIER OIL PLC 

("Premier" or "the Group")

Mandatory Conversion of remaining Convertible Bonds

31 July 2018

 

 

Premier announces that its wholly-owned subsidiary Premier Oil Finance (Jersey) Limited ("POFJ") intends to exercise the mandatory conversion option in its 2.5 per cent Guaranteed Convertible Bonds due 2022 (the "Bonds"). The exercise of such option will automatically and mandatorily convert all of the $28.772 million outstanding Bonds into approximately 31.4 million new ordinary shares of Premier. POFJ has delivered a notice (the "Mandatory Conversion Option Notice") to holders of the Bonds to confirm the exercise of such option and the actions that need to be undertaken by bondholders in respect of the mandatory conversion.

Post the mandatory conversion the Group will have no convertible bonds outstanding. The transaction will further reduce debt in line with Premier's current stated objective.

 

Enquiries

 

Premier Oil plc

Tel: 020 7730 1111

Tony Durrant, Chief Executive

 

Richard Rose, Finance Director

 

 

 

Camarco

Tel: 020 3757 4980

Billy Clegg

Georgia Edmonds

 

 

 


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